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Stryker Operating Results for Quarter Ended September 30, 2009

Third Quarter Highlights

— Net sales of $1,653 million increased 1.2% on a constant currency basis
(flat as reported)
— Orthopaedic Implants sales increased 6.9% on a constant currency basis
(5.5% increase as reported)
— MedSurg Equipment sales decreased 6.7% on a constant currency basis
(7.7% decrease as reported)
— Recorded restructuring charges of $48 million (net of income tax
— Adjusted net earnings increased 1.3% from $274 million to $277 million
and adjusted diluted net earnings per share increased 4.5% from $0.66 to

— Reported net earnings decreased 16.4% from $274 million to $229 million
and reported diluted net earnings per share decreased 13.6% from $0.66
to $0.57

“We are pleased to deliver solid results in a challenging environment with all of our orthopaedic implant businesses posting accelerated worldwide revenue growth, led by strong performances in the U.S. In addition, both our Endoscopy and Medical franchises showed a modest rebound with sequentially higher sales over the second quarter of 2009 despite continued softness in hospital spending,” commented Stephen P. MacMillan, President and Chief Executive Officer.


Josh Sandberg

Josh Sandberg is the President of Ortho Sales Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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